SEC Form 4 · accession 0001209191-17-014777
Vistance Networks, Inc. · VISN
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Frank M Drendel
Director
Period of report
Feb 23, 2017
Accepted (ET)
Feb 27, 2017 · 4:33 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001517228
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Feb 23, 2017 | A | 17,304 | $0.00 | A | 2,315,169 | D | |
| Common Stock | Feb 23, 2017 | F | 1,680 | $37.72 | D | 2,313,489 | D | |
| Common StockF2 | Feb 24, 2017 | A | 9,310 | $0.00 | A | 2,322,799 | D | |
| Common StockF3 | Feb 24, 2017 | F | 2,857 | $37.32 | D | 2,319,942 | D | |
| Common Stock | holding | — | — | — | 44,550 | I | By GRAT | |
| Common Stock | holding | — | — | — | 44,550 | I | By GRAT | |
| Common Stock | holding | — | — | — | 44,550 | I | By GRAT | |
| Common Stock | holding | — | — | — | 24,750 | I | By Family Trust | |
| Common Stock | holding | — | — | — | 184,776 | I | By Marital Trust |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1On February 23, 2016, the reporting person was granted 14,969 performance share units, which number could be increased or decreased based upon the Company's satisfaction of certain performance criteria during the applicable performance period. The performance criteria were exceeded, resulting in a total of 17,304 performance share units earned. The performance share units will vest ratably on 02/23/2018 and 02/23/2019, subject to the reporting person's continued employment with the issuer.
- F2On February 24, 2015, the reporting person was granted 11,920 performance share units, which number could be increased or decreased based upon the Company's satisfaction of certain performance criteria during the applicable performance period. The performance criteria were met at a level between threshold and target, resulting in a total of 9,310 performance share units earned. 4,655 performance share units vested on the date shown, and the balance of 4,655 performance share units will vest on 02/24/2018, subject to the reporting person's continued employment with the issuer.
- F3Includes (a) 9,980 restricted stock units that were granted on 02/23/2016 and will vest ratably on 02/23/2018 and 02/23/2019; (b) 3,974 restricted stock units that were granted on 02/24/2015 and will vest on 02/24/2018; (c) 17,304 performance share units that were earned on 02/23/2017 and will vest ratably on 02/23/2018 and 02/23/2019; and (d) 4,655 performance share units that were earned on 02/24/2017 and will vest on 02/24/2018, each subject to the reporting person's continued employment with the issuer.